Moderately bullish activity in Chevron with shares up 1.59%

Moderately bullish activity in Chevron (CVX), with shares up $2.88, or 1.59%, near $184.50. Options volume relatively light with 18k contracts traded and calls leading puts for a put/call ratio of 0.31, compared to a typical level near 0.54. Implied volatility (IV30) is higher by 0.6 points near 26.82,in the top quartile of the past year, suggesting an expected daily move of $3.12. Put-call skew steepened, indicating increased demand for downside protection.